FxWirePro: GBP/USD struggles for direction ahead of key U.S. data releases

• GBP/USD pair slipped early Thursday but later regained some ground as traders adjusted positions ahead of upcoming U.S. economic releases.

• US jobless claims and the ISM manufacturing data are due later Thursday, all eyes are on Friday’s April non-farm payrolls report, which is expected to provide a clearer picture of the U.S. economy’s health.

• The US economy has shown resilience in recent months, any sharp slowdown in job creation or a rise in unemployment could shift sentiment and pressure the Federal Reserve to reconsider its current stance on interest rates.

• Meanwhile, UK manufacturing activity declined for a seventh consecutive month in April, as Trump’s tariffs and rising employer taxes in Britain weighed on the sector, a survey showed on Thursday.

• Immediate resistance is located at 1.3424 (April 21st high), any close above will push the pair towards 1.3465 (23.6%fib).

• Strong support is seen at 1.3269(April 15th low) and break below could take the pair towards 1.3178(SMA 21).

Recommendation: Good to buy  around 1.3310, with stop loss of 1.3250 and target price of 1.3390